A retailer buys a television set from a wholesaler for ₹ 40,000. He
marks the price of the television set 15 % above the cost price and
sells it to a consumer at 5 % discount on the marked price. If the sales
are intra-state and the rate of GST is 12 %, find:
i) the marked price of the television set.
ii) the amount of tax paid by the retailer to the Central
Government.
iii) the amount of tax received by the State Government for the
sale of television set.
Answers
Answer:
It is a case of intra-state transaction of goods and services
SGST=CGST=
2
1
GST
The amount of tax (under GST) paid by the retailer to the Central Government
CGST paid by shopkeeper =6% of Rs.40000
=(6/100)×40000=Rs.2400
SGST paid by shopkeeper =6% of 40000=Rs.2400
Shopkeeper sells the article to consumer =Rs.43700
GST collected by shopkeeper =12% of Rs.43700
=(12/100)×43700=Rs.5244
CGST of shopkeeper=GST=6% of Rs.43700
=(6/100)×43700=Rs.2622
The amount of tax (under GST) paid by the retailer to the Central Government=Rs.2622−Rs.2400=Rs.222
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Answer:
GST
The amount of tax (under GST) paid by the retailer to the Central Government
CGST paid by shopkeeper =6% of Rs. 40000
=(6/100)*40000=Rs. 2400
SGST paid by shopkeeper =6% of 40000=Rs.2400
Shopkeeper sells the article to consumer =Rs.43700
GST collected by shopkeeper =12% of Rs.
43700
=(12/100)x43700=Rs.5244
CGST of shopkeeper-GST=6% of Rs. 43700
=(6/100)x43700=Rs.2622
The amount of tax (under GST)
paid by the retailer to the Central
Government=Rs.2622-Rs.2400=Rs.222